Daehan Electric Wire Surpasses 3 Trillion Won in Order Backlog for the First Time, Reaching All-Time High

Daehan Electric Wire announced on September 9 that, as of the end of last month, its order backlog had reached a record high of 3.25 trillion won, surpassing 3 trillion won for the first time in its history. This represents an approximately 3.5-fold increase from the 945.5 billion won recorded at the end of 2020, just before its acquisition by Hoban Group. During this period, the compound annual growth rate (CAGR) of the order backlog exceeded 30%.

Exterior view of Daehan Electric Wire Dangjin Cable Factory. Provided by Daehan Electric Wire

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This order backlog does not include the materials business that processes copper wire, the telecommunications cable business, or sales volumes to domestic private sector clients. Only highly profitable, mid- to long-term project-based orders are managed, with the majority consisting of extra-high voltage power grid projects.

Last month alone, Daehan Electric Wire secured more than 510 billion won in new orders, including the Anma Offshore Wind Power Submarine Cable Project (181.6 billion won), the Singapore 400kV Extra-High Voltage Power Grid Project (110 billion won), and the Qatar Extra-High Voltage Power Grid Project (a total of 220 billion won). These projects are all large-scale initiatives to build submarine and extra-high voltage underground cables in domestic and overseas markets, and are being carried out under a full turnkey system that covers everything from cable production to connection, construction, and testing.

Daehan Electric Wire cited its extensive project execution experience and turnkey capabilities in major global markets as the key factors behind the increase in orders. In fact, in Singapore, the company has won five consecutive 400kV turnkey projects locally, securing the top market share in the 400kV and above segment. In Qatar as well, Daehan Electric Wire has strengthened its position as a major supplier by executing numerous projects over several decades.

The company plans to secure continuous growth momentum by enhancing its competitiveness in the submarine cable and HVDC cable sectors. To this end, Daehan Electric Wire has finalized its investment in a second submarine cable factory capable of producing 640kV-class HVDC submarine cables, and has acquired Ocean CNI, a company specializing in submarine cable installation. This enables Daehan Electric Wire to supply the entire value chain, from production and transportation to installation and maintenance of submarine cables.

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